The spring is known as the peak season in real estate. Inventory is diverse drawing a large pool of buyers and it's the time when most transactions take place. Despite the new stress tests which have had a psychological impact on buyers, South East Calgary buyers are expected to hit the market from the 2nd quarter onwards. Even if sales will be comparably lower than last year, spring will still be a busy season. Let's see what the benefits of spring home shopping are.
Usually, most sellers wait until spring to list their homes as they have heard that it's the time when buyers are looking the most. Listings indeed multiply in April and May offering buyers great variety. You'll see houses, townhouses and condos of all sizes and shapes which increases your odds of finding your dream home. Still, one setback is that you'll not be the only one looking, and it might happen that half the homes are gone before you even manage to visit them. On the other hand, chances are higher to get caught up in bidding wars which usually end in paying over asking. Buying in spring means bringing your A-game to beat the competition.
The market gets hot during spring, and you probably won't have the time to go through all the pros and cons of each house and you'll have to act quickly. Nevertheless, it's not a reason to rush your decision and buy a home just because you feel pressured by the competition. After all, you're supposed to live in the new home for years and it has to be perfect. Listen to your gut, but also to the advice of your Realtor. You may know how you feel, but they are more objective and know real estate. If they tell you a home is a money pit, you better believe it.
The Warm Weather
No wonder that everyone is in a good mood for home hunting during the spring. The weather is warm, the sun is shining, and the homes look better, too, especially if they come with a nice garden and everything's green and blooming. But again, sellers are aware that many buyers are looking, which automatically means less room for negotiation. If sellers have dozens of calls from interested buyers, they won't be in the mood to negotiate a lot, but it’s a completely another story if their listing didn't evoke much interest.
Buying a home in spring usually means you don't get to move until the summer. The transactions usually take 2 or 3 months, and you'll be ready somewhere around June, July or August. If you have kids, this is a true blessing. Even if moving is stressful on any occasion, you still don't have to worry about drop-ups and pick-up to and from school which leaves you more time to settle in the new home.
South East Calgary remains the detached homes oasis, but the new mortgage rules and increased interest may drive buyers to focus on other housing types as well. If you consider buying in Calgary SE, call Ron Clappison 403 278 6041.
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